October 6, 2020 Headlines

Treasuries are little changed across much of the curve to start the day, and S&P 500 futures are pointing to a positive open for the index. Markets are awaiting Fed Chair Powell’s speech later this morning as part of a NABE conference, although it should be more of the same ultra-dovish tone from the Fed leader. The IMF is calling on rich, developed nations to put aside concerns over relatively high government debt loads and to immediately increase public infrastructure investment in order to “revive economic activity from the sharpest and deepest global economic collapse in contemporary history.” The IMF argues that now is the right time for such projects amid record low interest rates and elevated unemployment due to the pandemic.

Jason Haley
Chief Investment Officer

10/5/2020Markit US Services PMI54.654.654.6
10/5/2020Markit US Composite PMI54.354.4
10/5/2020ISM Services Index56.257.856.9
10/6/2020Trade Balance-$66.2b-$67.1b-$63.6b-$63.4b
10/6/2020JOLTS Job Openings65006618
10/7/2020MBA Mortgage Applications-4.80%
10/7/2020FOMC Meeting Minutes
10/7/2020Consumer Credit$14.000b$12.250b
10/8/2020Initial Jobless Claims820k837k
10/8/2020Continuing Claims11400k11767k
10/8/2020Bloomberg Consumer Comfort49.3
10/9/2020Bloomberg Oct. United States Economic Survey
10/9/2020Wholesale Inventories MoM0.50%0.50%
10/9/2020Wholesale Trade Sales MoM4.60%


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